Why is Panama Petrochem falling/rising?

As of 22-Sep, Panama Petrochem Ltd is experiencing a decline in its stock price, currently at Rs 293.00, reflecting a decrease of Rs 3.1 or 1.05%. The stock has been underperforming, having fallen consecutively for the last four days, resulting in a total decline of 2.95% during this period. It is also trading close to its 52-week low, just 1.02% away from Rs 290. The stock's performance over the past week shows a decline of 2.88%, and over the past month, it has decreased by 12.33%. While the company has a low debt-to-equity ratio and healthy long-term growth in net sales and operating profit, it has faced negative results recently, including a significant drop in key financial metrics. This combination of factors contributes to the stock's downward movement.
In the broader market context, Panama Petrochem's performance has been notably weaker compared to the benchmark, with the Sensex gaining 0.46% over the past week while the stock has declined. Year-to-date, the stock has dropped 19.64%, contrasting sharply with the Sensex's increase of 5.15%. The consistent underperformance against the benchmark over the last three years, along with a lack of investment from domestic mutual funds, suggests a lack of confidence in the stock's future prospects. This context highlights the challenges Panama Petrochem faces in regaining investor trust and improving its market position.